MIRA INFORM REPORT

 

 

Report No. :

497650

Report Date :

23.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

TZEEN GENERAL TRADING

 

 

Registered Office :

4A Gracey Street, Neave Township, Port Elizabeth, Eastern Cape 6001

 

 

Country :

South Africa

 

 

Date of Incorporation :

Not Available

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

Not Available

 

 

Line of Business :

·         Retail Sale of Hardware.

·         The subject is involved in the supply of eco-friendly products such as solar panels and geysers.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

D

 

Credit Rating

Explanation

 

Rating Comments

D

High Risk

Business dealing not recommended or on secured terms only

 

 

Status :

Undetermined

 

 

Payment Behaviour :

--

 

 

Litigation :

--

 

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

South Africa

A2

A2

 

Risk Category

ECGC

Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

 

SOUTH AFRICA - ECONOMIC OVERVIEW

 

South Africa is a middle-income emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors; and a stock exchange that is Africa’s largest and among the top 20 in the world.

Economic growth has decelerated in recent years, slowing to an estimated 0.7% in 2017. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 27% of the workforce, and runs significantly higher among black youth. Even though the country's modern infrastructure supports a relatively efficient distribution of goods to major urban centers throughout the region, unstable electricity supplies retard growth. Eskom, the state-run power company, is building three new power stations and is installing new power demand management programs to improve power grid reliability but has been plagued with accusations of mismanagement and corruption and faces an increasingly high debt burden.

South Africa's economic policy has focused on controlling inflation while empowering a broader economic base; however, the country faces structural constraints that also limit economic growth, such as skills shortages, declining global competitiveness, and frequent work stoppages due to strike action. The government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas, to increase job growth, and to provide university level-education at affordable prices. Political infighting among South Africa’s ruling party and the volatility of the rand risks economic growth. International investors are concerned about the country’s long-term economic stability; in late 2016, most major international credit ratings agencies downgraded South Africa’s international debt to junk bond status.

 

Source : CIA

 

 

Executive Summary

 

The subject was uncooperative; therefore we are unable to comment on the enquiry.

 

 

COMPANY INFORMATION

 

STATUTORY INFORMATION

 

Registered Name

TZEEN GENERAL TRADING

Type Of Company

Unknown

Commercial Status

Unknown

 

 

CONTACT DETAILS

                                                        

Contact Number

+27 41 818 3025

Email Address

info@tzeentrading.co.za

Website

www.tzeentrading.co.za

Social Media Presence

The subject does not have a social media presence.

Trading Physical Address

4A Gracey Street

Neave Township

Port Elizabeth

Eastern Cape

South Africa 6001

 

 

GENERAL COMMENTS  

 

Comments

The subject declined to provide any information or to update existing information as this information is deemed to be confidential. Any information contained in this report was obtained from outside sources and public information records and is thus unconfirmed by the subject.

 

 

TAX INFORMATION

 

VAT INFORMATION

 

VAT Status

The subject declined to provide the information

 

 

OWNERSHIP STRUCTURE

 

GENERAL COMMENTS

 

General Comments

Shareholding was declined.

 

 

PRINCIPAL INFORMATION

 

GENERAL COMMENTS

 

General Comments

Principal information declined.

 

 

BANK ACCOUNT INFORMATION

 

GENERAL COMMENTS

 

General Comments

Banking details were declined.

 

 

OPERATIONAL ACTIVITIES

 

Operational Activities Status

The subject declined to provide the information

Industry

Retail

Major Industry SIC Code

47420 - Retail sale of hardware

 

 

MAJOR OPERATION

 

Major Business Activities

The subject is involved in the supply of eco-friendly products such as solar panels and geysers as well as oxygen cylinders.

Foreign Trade Activities

International

 

GENERAL COMMENTS

 

General Comments

Further details not made available

 

 

OPERATIONAL FOOTPRINT

 

Operational Footprint Status

The subject declined to provide the information

 

GENERAL COMMENTS

 

General Comments

No information could be obtained.

 

 

FINANCING TERMS

 

GENERAL COMMENTS

 

General Comments

Financing terms were declined.

 

 

FINANCIAL FIGURES

 

GENERAL COMMENTS

 

General Comments

Financial information was declined.

 

 

TRADE REFERENCES

 

GENERAL COMMENTS

 

General Comments

No creditor details were made available for trade reference purposes.

 

 

COURT NOTICES

 

No judgments on file in the name of the subject.

No liquidation applications on file in the name of the subject.

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.06

UK Pound

1

INR 92.06

Euro

1

INR 80.37

ZAR

1

INR 5.50

Note: Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

NIT

 

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.